As SPAC Frenzy Continues, Questions Arise About How Much Markets Can Absorb: Report, Hong Kong Tycoon Richard Li Considers Third Bridgetown SPAC, EV Company Xos Merging with NextGen Acquisition at $2B Valuation, Warrior Technologies Acquisition Prices Upsized $240M IPO, Fusion Acquisition II Prices Upsized $435M IPO, Twelve Seas Investment II Prices Upsized $300M IPO, Freedom Acquisition I Prices Upsized $300M IPO, New Vista Acquisition Files for $200M IPO, Sustainable Development Acquisition I Files for $250M IPO, ​Churchill Capital VII Files for $300M IPO. Copyright © 2021 InvestorPlace Media, LLC. Investor Webcast and Presentation Information At 5:00 pm EST on December 10, 2020, TPG Pace will be holding an investor conference call. © DealFlow Financial Products, Inc. (d/b/a DealFlow Events). EVBox Group to Become Public Company via Business Combination with TPG Pace Beneficial Finance EVBox Group to Gain Access to Growth Capital to Fuel Global Expansion Investor Webcast and Presentation Information. This lowers both the absolute numbers so that by 2023 revenue is actually just $296 million, instead of over $450 million. PO Box 122Syosset, NY 11791(516) [email protected]. Of course, this makes it harder to Blink to reach scale but still makes it an attractive investment since all EV charging station stocks should perform well in 2021 and beyond. On page 43 of TPG’s slide presentation, the company presents EVBox’s revenue and adjusted EBITDA forecast. Get notified of the latest SPAC news by joining our mailing list. Investor Contact: [email protected]. That represents a gain of 41% over the Feb. 12 price. We are very excited to announce the de-SPAC transaction between TPG Beneficial Finance and EVBox Group. Cardano Is Set to Outpace Even the Fastest-Moving Crypto Coins, Reddit Stocks: Why GME, AMC, NOK, BB, EXPR and KOSS Are on a Rocket Ship Again, With the Lucid Motors Merger Confirmed, CCIV Stock Is Your 10X Opportunity, Palantir Grows Into Its High-Priced Valuation. Looking closely at these numbers it is clear that EVBox … That is incredible. In 2021, EVBox Group will become a public company listed on the New York Stock Exchange via a business combination with TPG Pace Beneficial Finance and initial investors BlackRock, Inclusive Capital, Neuberger Berman Funds, and Wellington Management. The best and simplest way to value EVBox is to compare it to ChargePoint, using Switchback Energy (NYSE:SBE) presentation numbers. That represents a gain of 93% from the recent TPGY price. The business combination values EVBox at an implied $969 million enterprise value, and a total pro-forma equity value of approximately $1.4 billion. TPG SPAC Merger with EVBox Is Deeply Undervalued, reverse merger with a European charging company, Louis Navellier and the InvestorPlace Research Staff, Even After Factoring in Higher Rates, Plug Power Stock Is Still a Buy. Tracking news, trends and deals in the SPAC market. For example, on page 45 of the slide presentation, we can use the number of shares listed on a pro forma basis once the merger closes to set the pro forma market capitalization. We can use these figures to find its enterprise value-to-sales ratios as well as its target market cap and price. On December 10, 2020, TPG Pace Beneficial Finance entered into a definitive agreement to acquire the EVBox Group for a combination of cash and equity. Mark Hake writes about personal finance on mrhake.medium.com and runs the Total Yield Value Guide which you can review here. EVBox Group, a leading global provider of smart charging solutions for electric vehicles (“EV”), today announced that the Company will participate at the 23rd Annual ICR Conference. This covers the otherwise use of his investment money in EVBox waiting three years in the future. EVBox Group to go public in SPAC deal. Source: Blink January 2021 Investor Presentation Blink has a slightly different business model than Chargepoint because they own and operate 100% of its charging stations. They grow on average 74.5% annually over the next three years. L.L.P. TPGY stock (the new symbol will be EVB after the merger) is worth at least 67% more at $49.32 when the SPAC merger closes. 1125 N. Charles St, Baltimore, MD 21201. The entire space does have risk, to which the TPG-EVBox tie-up is not immune. Join investing legend Louis Navellier on March 3 when he unveils his most aggressive — and most exciting — way to play the boom in tech stocks. This article will explain how I came up with these calculations. TPG Pace is a SPAC company created by the investment firm TPG. EBVBox is Europe’s largest electric vehicle charging company, just like ChargePoint is the largest in the U.S. Based on a comparison with ChargePoint, I estimate that TPGY/EVB stock is worth $7.6 billion or $49.32 per share fully diluted. All rights reserved. You can see this calculation in the table I have put together at the right. Linklaters LLP acted as the legal advisor to ENGIE and Vinson & Elkins L.L.P. But ChargePoint’s CAGR is only 60% over that period. On the date of publication, Mark R. Hake does not hold a long or short position in any of the stocks in this article. Those warrants will likely be called within several months after the merger and EVBox will receive the proceeds. But if investors are willing to take on that risk, TPGY stock looks like the choice. We can use the total cash raised from the deal, minus the debt repayments and deal costs, to determine the pro forma enterprise value. TPG has a "long history of supporting and investing in high-growth companies" such as Airbnb (ABNB), Uber (UBER), and C3.ai (AI) as well. What Did the Stock Market Do Today? Kristof Vereenooghe, President and CEO, will present on Wednesday, January 13, 2021. It also raises the 2023 enterprise value-to-sales ratio to 13.2 times. The average annual growth rate falls to 52%. It shows that by 2023 revenue will be $450 million. Chargepoint financials based on “approximate calendar year” 2020E, 2021E and 2022E . This implies that EVBox should have a slightly higher premium. A high-level overview of TPG Pace Beneficial Finance Corp. (TPGY) stock. For those who wish to participate, the domestic toll-free access number is +1 833 470 1428 and the international toll-free access number is +1 404 975 4839. 2021 InvestorPlace Media, LLC. On Dec. 10, 2020, a SPAC (special purpose acquisition company) called TPG Pace Beneficial Corp. (NYSE: TPGY) announced a reverse merger with a European charging company EVBox Group.TPGY stock (the new symbol will be EVB after the merger) is worth at least 67% more at $49.32 when the SPAC merger closes. TPG Pace Beneficial Finance Corp. has agreed to acquire EVBox, a provider of smart charging solutions for electric vehicles, from Engie SA. acted as the legal advisor to TPG Pace. It shows that the pro forma market cap is now $4.54 billion and the enterprise value is $3.94 billion. The transaction upon completion is … This represents a potential gain of 67% from Feb. 12. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. The SPAC will target businesses operating within space, defense and communications, and advanced air mobility and logistics industries. Investor Webcast and Presentation Information At … Posted December 21, 2020 by Charles Morris & filed under Newswire, The Infrastructure.. EVBox, a provider of charging hardware and software, has announced plans to go public through a merger with a company called TPG Pace Beneficial Finance (NYSE: TPGY).EVBox’s current owner, the French multinational utility ENGIE, will retain an … Copyright © Founded in 2010, Amsterdam-based EVBox makes hardware and software, and operates a network of more than 190,000 charge ports in 70 countries. Investor Webcast and Presentation Information At 5:00 pm EST on December 10, 2020, TPG Pace will be holding an investor conference call. Media Contacts: EVBox Job Karstens [email protected] +31 (0)6 22 26 55 25. EVBox Group expects to be listed on the NYSE by late Q1 2021. TPYG is trading at $22,61 this morning, up $11.51. The "Mad Money" host said EVBox, which is merging with TPG Pace Beneficial Finance Corp., is his favorite of the group. acted as the legal advisor to TPG Pace. On Dec. 10, 2020, a SPAC (special purpose acquisition company) called TPG Pace Beneficial Corp. (NYSE:TPGY) announced a reverse merger with a European charging company EVBox Group. EVBox Group, a leading global provider of smart charging solutions for electric vehicles ("EV"), today announced that the Company will participate at the 23rd Annual ICR Conference. In October 2020, TPG Pace Beneficial Finance priced an IPO, raising approximately $350 million in addition to $100 million of committed capital raised in a forward private placement. For those who wish to participate, the domestic toll-free access number is +1 833 470 1428 and Presentation: Eric Hackel: Good evening everyone – this is Eric Hackel from Deutsche Bank. The SPAC in the filing saaid it has strong interest in Certified B Corp companies or those implementing policies and processes to become certified after investment. In December 2020, EVBox announced that it will go public through a merger with TPG Pace Beneficial Finance Corp. Nasdaq No investor presentation yet. TPG Pace Beneficial Finance filed an investor presentation on its proposed merger with EVBox, a subsidiary of ENGIE New Business. The SPAC is led by CEO and Chairman Michael Klein, founder and managing partner of strategic advisory firm M. Klein and Company. At 5:00 pm EST on December 10, 2020, TPG Pace will be holding an investor conference call. On December 10, 2020, EVBox Group announced its aim to become a public company via a business combination with TPG Pace Beneficial Finance. Madeline Vidak [email protected] +31 (0)6 30 71 06 93. In fact, on page 47 of the TPGY slide presentation, EVBox compares its growth with ChargePoint. In 2021, it forecasts 71% growth over 2020, but in 2022 that rises to 87.5% growth. On that day, TPG Pace Beneficial Finance announced that it would merge with EVBox. Therefore, TPGY stock is worth somewhere between a gain of 41% and a gain of 93%, or an average of $49.32 per share. Therefore, the average between the two numbers is $49.32 per share. Read the press releaseRead investor documentsContact investor relations TPGY stock (the new symbol will be EVB after the merger) is worth at least 67% more at $49.32 when the SPAC merger closes. The business combination values EVBox at an implied $969 million enterprise value, and a total pro-forma equity value of approximately $1.4 billion. EVBox, which is based in the Netherlands, was founded in 2010. Stay up to date on the latest stock price, chart, news, analysis, fundamentals, trading and investment tools. TPGY touched the $30 level before 2020 was over, but … All rights reserved. The adjusted target value, based on a 27.6 enterprise value-to-sales multiple from ChargePoint’s adjusted enterprise value-to-sales ratio, is $56.92 when applied to TPGY stock. This works out to an annual average growth rate of 74.5%. acted as the legal advisor to TPG Pace. For one, any investor would want to have a hurdle rate or opportunity-cost rate. 3 Big Stories to Catch Up On. TPG is proudly part of the TPG Telecom Limited group of companies, formed by the July 2020 merger of TPG and Vodafone Hutchison Australia - two of Australia's leading telecommunications providers. This compares with its existing pro forma market value of $3.944 billion. The company makes hardware and software and operates a network of more than … These go out to 2o23. In addition, I have added in the warrants which are all in-the-money. On Dec. 10, 2020, a SPAC (special purpose acquisition company) called TPG Pace Beneficial Corp. (NYSE:TPGY) announced a reverse merger with a European charging company EVBox Group. We can use this when comparing the EVBox average enterprise value-to-sales ratios to ChargePoint’s multiples. TPG Pace Files Investor Presentation on EVBox Merger. Use of Projections This presentation contains financial forecasts prepared by TPG Pace Beneficial Finance Corp. (“TPG Pace”) with respect to certain financial metrics of EV Charged B.V., a Dutch private limited liability company (besloten vennootschap met beperkte aansprakelijkheid) (“EV Charged”), including, but not limited to, revenues, gross profit, gross margin, adjusted gross margin, operating … Read more. Looking closely at these numbers it is clear that EVBox Group expects its revenue to essentially go through the roof. Fortunately, most of the valuation analysis work is done by EVBox both in its Dec. 10 press release and in its accompanying slide presentation. I suspect that once the merger goes through the market will revalue TPGY stock (EVB stock then) about 67% higher. Article printed from InvestorPlace Media, https://investorplace.com/2021/02/tpgy-stock-spac-merger-evbox-deeply-undervalued/. 1. These go out to 2o23. Linklaters LLP acted as the legal advisor to ENGIE and Vinson & Elkins L.L.P. In addition, we use a 15% discount rate to adjust for risk over the next three years. Based in France, EVBox is a global provider of smart charging solutions for electric vehicles with Europe’s largest installed base of charging solutions and an advanced cloud-based software offering. But we cannot use that ratio. 1125 N. Charles St, Baltimore, MD 21201. The next table on the right shows these adjusted revenue numbers. For example, the table at the right shows my analysis of ChargePoint’s enterprise value-to-sales ratios, including on an adjusted basis. Its growth rate to 2022 is expected to be 79% compound annual average growth (CAGR).
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